The Average Prime Offer Rate was not being published at the time these regulations became effective. Accordingly, the Commissioner issued an Advisory on November 6, 2008 stating that those provisions of the regulations relating to higher-priced mortgage loans would not be enforced until such time as the Average Prime Offer Rate was published.

BE ADVISED, with the publication of the Average Prime Offer Rate,
effective March 16, 2009, the Commissioner will enforce those provisions of the referenced regulations relating to higher-priced mortgage loans.

This Advisory supersedes the Commissioner's November 6, 2008 Advisory on the subject of Higher-Priced Mortgage Loans and the Average Prime Offer Rate.